Effect of Lump Sum Payment. The lump sum payment under Section 14.2.2(a) above shall not alter the amounts the Employee is entitled to receive under the benefit plans described in Section 14.2.2(c) above. Benefits under such plans shall be determined as if the Employee had remained employed and received such Cash Severance Payments over a period of eighteen (18) months.
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Samples: Employment Agreement (Security Bank Corp), Employment Agreement (Security Bank Corp), Employment Agreement (Security Bank Corp)
Effect of Lump Sum Payment. The lump sum payment under Section 14.2.2(a(a) or (b) above shall not alter the amounts the Employee is entitled to receive under the benefit plans described in Section 14.2.2(c(c) and (d) above. Benefits under such plans shall be determined as if the Employee had remained employed and received such Cash Severance Payments payments over a period of eighteen (18) months.
Appears in 2 contracts
Samples: Employment Agreement (SNB Bancshares Inc), Employment Agreement (SNB Bancshares Inc)
Effect of Lump Sum Payment. The lump sum payment under Section 14.2.2(a(a) or (b) above shall not alter the amounts the Employee is entitled to receive under the benefit plans described in Section 14.2.2(c(c) and (d) above. Benefits under such plans shall be determined as if the Employee had remained employed and received such Cash Severance Payments payments over a period of eighteen twelve (1812) monthsmonths and such amounts will not be discounted to their Present Value.
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Effect of Lump Sum Payment. The lump sum payment under Section 14.2.2(a(a) or (b) above shall not alter the amounts the Employee is entitled to receive under the benefit plans described in Section 14.2.2(c(c) and (d) above. Benefits under such plans shall be determined as if the Employee had remained employed and received such Cash Severance Payments payments over a period of eighteen twelve (1812) months.
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Effect of Lump Sum Payment. The lump sum payment under Section 14.2.2(a(a) or (b) above shall not alter the amounts the Employee is entitled to receive under the benefit plans described in Section 14.2.2(c(c) and (d) above. Benefits under such plans shall be determined as if the Employee had remained employed and received such Cash Severance Payments payments over a period of eighteen twenty-four (1824) months.
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